The Seiden Law is representing client Senior Health Insurance Company (\u201cSHIP\u201d) in a lawsuit in New York federal court against Lincoln International LLC and Lincoln Partners Advisers LLC (\u201cLincoln\u201d) arising from the massive fraud involving the Platinum Partners hedge fund and its affiliate, Beechwood Re Ltd.\u00a0 \u00a0SHIP, an insurance company, incurred massive losses of over $100 million in the fraud.\u00a0 SHIP\u2019s lawsuit alleges that Lincoln, a valuation firm, aided and abetted the fraud by issuing inflated valuations.<\/p>\n
On December 3, 2019, the Honorable Jed S. Rakoff of the United States District Court for the Southern District of New York declined to dismiss SHIP\u2019s claims against Lincoln for aiding and abetting fraud.\u00a0 In his decision, Judge Rakoff held that SHIP\u2019s complaint \u201cadequately pleads that Lincoln\u2019s fraudulent valuations contributed to preventing SHIP from discovering the fraud.\u201d<\/p>\n